Asked in Business Accounting and Bookkeeping
The Proprietary Theory vs the Entity Theory?
PROPRIETARY THEORY PROPRIETARY THEORY is where no fundamental distinction is drawn between a legal entity and its owners, i.e. the entity does not exist separately from the owners for accounting purposes. The primary focus is to report information useful to the owners, and therefore the financial statements are prepared from their perspective. ENTITY THEORY ENTITY THEORY is where a legal entity is regarded as having a separate existence from the owners. The financial statements are prepared from the perspective of the entity, not its owners. ...
Asked in Colonial America, Pennsylvania, History
Was the Pennsylvania colony a royal or proprietary?
it was a proprietary
Was Virginia a royal colony or proprietary colony?
It is a proprietary colony.
Asked in Connecticut
Was the Connecticut colony a proprietary or royal colony?
Connecticut was a proprietary colony.
Was Maryland a proprietary colony a royal colony or a corporate colony?
it was a Proprietary and a Royal Colony. -Clitorisandra
Was Pennsylvania a corporate royal or proprietary colony?
It was a proprietary colony granted by charter to William Penn.